Martin Lewis has slammed the banks for not passing on new rates to savers, but hiking rates for borrowers.
Speaking on ITV’s Good Morning Britain about the impact of rate hikes on mortgage holders, he said: “None of this is accidental. The fact that mortgage borrowers are paying a lot more is the policy.”
Mr Lewis, who was speaking as Chancellor Jeremy Hunt held a meeting with banks on Friday, told the programme: “Nobody needs to be under any uncertain terms that the idea that mortgage borrowers are being squeezed and their incomes are reducing is not an accidental by-product. It is absolutely deliberately why interest rates go up.
